About the activities of the State Bank and its field structures during the Great Patriotic War

The organizational measures carried out by the State Bank of the USSR during the Great Patriotic War, which resulted in the creation of an optimal system of uninterrupted banking services during the war, are investigated. It is shown that in the most difficult conditions of the war economy, as a result of promptly taken measures, the monetary system of the Soviet Union adequately emerged from the trials of the Second World War. Since the first days of the war, the USSR State Bank has been focused on improving the processes of mobilizing funds (including through their issuance), increasing the volume of attracted deposits and lending to military industry enterprises, conducting anti-inflationary measures, attracting monetary resources to the coffers of the USSR State Bank, strengthening cash discipline and accelerating money turnover. It has been established that in the conditions of military operations, the Management of field institutions created by the USSR State Bank is a fairly effective form of banking services for troops. Mobile institutions operating as part of the active army provided military units with cash and carried out the necessary settlement operations in combat conditions. It is shown that the main activity of field banks was the conduct of deposit operations, which contributed to the reduction of cash in the front line and the development of non-cash payments. It is shown that in the emergency conditions of the war and a sharp reduction in financing, the USSR State Bank, together with specialized universities, did not stop training banking specialists; it retained a staff of teachers, a contingent of students and graduate students with the prospect of restoring the activities of destroyed enterprises and institutions of the State Bank in the liberated areas, as well as implementing a number of major events of national economic importance in the post-war period. The heads and employees of the USSR State Bank made a worthy contribution to the common cause of winning Victory in the Great Patriotic War.

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